DUBLIN–(BUSINESS WIRE)–The “India eLearning Market – Focused Insights 2024-2029” report has been added to ResearchAndMarkets.com’s offering.
The Indian e-learning market is expected to reach a value of $28.46 billion by 2029 from $10.24 billion in 2023, growing at a CAGR of 18.57% from 2023-2029.
The learning management system delivery mode segment showcases significant growth, with the highest CAGR of 20.57% in the India e-learning market. The growing demand for online education, driven by technological advancements, changing learning preferences, and the need for flexible learning options, fuels the adoption of LMS platforms. Educational institutions, corporations, government agencies, and training providers increasingly use LMS platforms to efficiently deliver and manage online learning programs.
The self-paced learning mode segment in the Indian e-learning market will hold the largest market share in 2023. This segment is driven by the flexibility to access educational materials, progress through courses, and complete assignments at one’s own pace and convenience. The availability of high-quality educational content on e-learning platforms has also significantly increased access to self-paced learning opportunities.
The training function segment dominated the market, with the largest share of the Indian e-learning market. The training function encompasses various methodologies and approaches to deliver training content to learners. E-learning platforms provide individuals across India access to high-quality educational and training content. This accessibility is particularly beneficial in a country as geographically diverse as India, thus helping in segmental growth.
The corporate end-user segment is growing significantly, with the fastest-growing CAGR of 20.38% during the forecast period. The segmental growth is driven by a robust IT and service industry, a large and young workforce, and the country’s fast GDP growth. With India’s burgeoning IT and service sector and its demographic dividend of a young workforce, there’s ample room for expansion in the e-learning segment tailored for corporate users.
MARKET DRIVERS
Increase in Government Initiatives: Government initiatives play a crucial role in driving the growth of the e-learning market in India through several measures aimed at enhancing access to digital education, promoting technological innovation, and addressing infrastructure challenges. The government of India has launched the Digital India campaign, which aims to transform the country into a digitally empowered society and knowledgeable economy. Through this initiative, the government has implemented several programs and policies to promote digital literacy, internet connectivity, and the adoption of digital technologies, all of which are essential for the growth of the e-learning market. The National Education Policy (NEP) 2020 emphasizes technology integration in education and aims to promote online learning, digital resources, and e-learning platforms. The policy envisions using e-learning tools and digital platforms to improve access to high-quality education, enhance learning outcomes, and foster innovation in teaching and learning practices.
Growing Need for Strong Workforce Skills: The growing need for strong workforce skills is a significant driver of the e-learning market in India. With rapid technological advances and changing job requirements, individuals increasingly demand to acquire new skills or upgrade themselves to remain competitive. In 2022, according to a report by the National Skill Development Corporation (NSDC), India required an additional 103 million skilled workers across 24 key sectors to meet the demands of a growing economy. Despite the growing number of graduates in India, there is a gap between the skills demanded by employers and those of job seekers. According to the India Skills Report 2021, only about 45.9% of Indian graduates are employable, and 46.2% in 2022. This highlights the need for focused skill development initiatives. The need for skilled employees stems from the evolving demands of the job market, which increasingly requires specialized knowledge, technical expertise, and soft skills.
VENDOR LANDSCAPING
The India e-learning market report contains exclusive data on 54 vendors. The competitive scenario in the Indian e-learning market is dynamic and evolving, characterized by global players and homegrown innovators offering diverse products and services to cater to the increasing demand for online education and training solutions in India. Regarding market share, a few major players are currently dominating the market.
Some companies currently dominating the market are BYJU’S, Khan Academy, NIIT, Simplilearn, Udemy, Unacademy, upGrad, and Vedantu. Major players focus on strategic agreements, acquisitions, and collaboration with emerging players to enter the Indian e-learning market and gain access to the vast youth generation seeking e-learning platforms.
VENDORS LIST
Key Vendors
Other Prominent Vendors
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 94 |
| Forecast Period | 2023 – 2029 |
| Estimated Market Value (USD) in 2023 | $10.24 Billion |
| Forecasted Market Value (USD) by 2029 | $28.46 Billion |
| Compound Annual Growth Rate | 18.5% |
| Regions Covered | India |
Key Topics Covered:
Chapter – 1: India E-Learning Market Overview
Chapter – 2: India E-Learning Market Segmentation Data
Chapter – 3: India E-Learning Market Prospects & Opportunities
Chapter – 4: India E-Learning Market Overview
For more information about this report visit https://www.researchandmarkets.com/r/sr3hl
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